ARTICLES ABOUT COMMERCIAL PROPERTY BY DATE - PAGE 2

BANGALORE: Office and retail segments, rents across commercial real estate are expected to witness a hike over the coming quarters on account improving economic environment and rising demand. "As India is about to form a stable at the Centre, markets around the country are showing signs of economic recovery. And the recovery is witnessed across all segments of commercial real estate," according to RICS India Commercial Survey for first quarter of 2014 (January to March). Sachin Sandhir, Managing Director, RICS South Asia says, "There are positive indicators in the market.

NEW DELHI: Prices of commercial property, which includes offices space as well as shops in malls and shopping complexes, have fallen 30% from their peak values in 2008 because of a glut in supply and weak demand over the past few years. A fifth of commercial space is vacant in India because a slowdown in the economy has reduced the frequency with which new businesses come up and existing ones scale up. Addition of new space has made the situation worse, say property advisers. According to property consultancy JLL, commercial property prices in Mumbai city have dropped 34.7% from the peak of 2008, while those in the suburbs are down 30.7%.

NEW DELHI/MUMBAI: A massive oversupply situation in markets such as Chennai, Hyderabad and Pune is pushing several hotel developers to convert their upcoming projects into residential or commercial properties. The proposed The Oberoi luxury hotel in Hyderabad, for example, has been put on the backburner and the developer is mulling over alternate use of the project as a commercial centre, an industry expert said. "The market isn't promising the projected average room revenues (ARRs)

MUMBAI: Private equity firm Milestone Capital Advisors has sold a 2.5 lakh sq ft commercial property in Pune for about Rs 145 crore to a high-net-worth individual (HNI), marking a potential renewal of interest among such investors in assets that offer stable rental returns in addition to capital appreciation. The office building, Centrum B2 in Kalyani Nagar, was one of Milestone's initial investments through its rental yield fund IL&FS Milestone Fund I in 2008. It currently houses tenants including Reliance Communications , Standard Chartered and Vodafone.

MUMBAI: The Enforcement Directorate (ED), which has arrested Gagan Suri , MD of Yathuri Associates , a defaulter of NSEL, has been probing Aastha and its sister company, Juggernaut, which have defaulted to the extent of Rs 250 crore. The ED has attached land and property belonging to the defaulters under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The investigations, said ED sources, have revealed that Aastha Minmet is in the business of manufacturing TMT Rods.

MUMBAI: Mumbai builder Lodha Group has bought a second building in London for over 90 million pounds, or around Rs 1,000 crore, in the space of three months. In November, the group had acquired MacDonald House in central London which housed the Canadian consulate in UK, for over 306 million pounds or Rs 3,120 crore. The property spread over 1.15 acre on Carey Street is close to London School of Economics and is located in mid-town between city and West-End area of central London.

MUMBAI: Nikhil Zaveri, the man who mysteriously disappeared from his residence, has been traced after more than two months by the police to an ashram in Malvani near Malad suburb of Mumbai. "Zaveri was found in Malvani Ashram where he was dropped by patrolling police officers in the locality as he was unable to recall address or any other details. He has now been handed over to his family," said an officer from Samata Nagar police station in Kandivali. Zaveri is suffering from 'Huntington's disease', which according to his relatives runs in the family.

PUNE: The RICS India Commercial Property Survey showed signs of a fall in both occupier and investor sentiment during the third quarter of 2013 (July -September). The Occupier Sentiment Index (OSI) for India fell deeper into negative territory during this period, going from -1 in the second quarter to -22. This was a result of a drop in occupier demand, a pick up in inducements and a moderation in near term rental expectations, although the latter still remain positive. Sachin Sandhir, Managing Director, RICS South Asia said, "From the occupier's point of view, commercial spaces often involve more capital.

The Skyscraping of London is being driven by a variety of factors. First the unending demand from overseas investors for residential property as investments, a shortage of high-end luxury developments now that Mayfair and Chelsea are over-priced, and newly-beggared councils willing to give planning permission to enterprising developers. In addition, the past few years have seen a huge upsurge of overseas investors willing to invest in London property development, mainly from the Middle East, Malaysia, and even China, as also in leasing commercial property for long periods.

For Non Resident Indians (NRIs) looking at investing in Indian property today, the task is challenging. On one hand, with the rupee touching all time lows against the dollar, it appears to be a great time to remit funds to India for investment. However, on the other hand, with India's growth story looking bleak, the prospect for high returns seems an uphill task. For Non Resident Indians with big budgets and who have the appetite for some serious real estate investing, here's an option you might want to consider.